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Fred Glick from Glick Watch discusses real estate management in this tutorial. The rental cycle consists of showing the property, renting it out, and turning it over when someone moves. During the showing phase, you need a rental application, lease agreement, move in/move out form, and every adult living in the property to apply. It is important to obtain a valid ID and run credit and background checks on all applicants to comply with federal, state, and local laws.